- Wall Street’s main indexes opened sharply higher on Monday.
- S&P 500 Index touched a new record high after opening bell.
- Technology shares post strong gains to fuel the rally.
Major equity indexes in the US started the day sharply higher on Monday as risk flows dominate the financial markets at the start of the week.
The S&P 500 Index, which touched a record high of 3,426 at the opening bell, was last seen gaining 0.75% on the day at 3,422. Meanwhile, the Dow Jones Industrial Average was up 0.42% on the day at 28,047 and the Nasdaq Composite was gaining 1.2% at 11,448 after spiking to an all-time high of 11,453.
Among the 11 major S&P 500 sectors, the risk-sensitive Technology and the Communication Services indexes both gain more than 1% to fuel the rally. On the other hand, the defensive Utilities and the Real Estate indexes trade in the negative territory.
Heightened hopes for an effective coronavirus treatment and the slowdown witnessed in the pace of new infections in the US seem to be providing a boost to sentiment on Monday.
S&P 500 chart (daily)
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